Ashok Leyland bags orders for 2580 buses from 3 states

1. Ashok Leyland bags orders for 2580 buses from 3 states These orders bagged by Ashok Leyland are among the largest from the STU to an individual vehicle maker in the country. All these buses can be delivered before March 2019. The Hinduja group flagship firm and India’s largest bus manufacturerAshok Leyland confirmed, on Wednesday, that it has bagged orders from IRT (Institute of road transport) Chennai, UPSRTC (Uttar Pradesh State Roadways Transport Corporation) and CTU (Chandigarh Transport Undertaking) for 2580 buses. These orders bagged by Ashok Leyland are among the largest from the STU to an individual vehicle maker in the country. All these buses can be delivered before March 2019. The MD of Ashok Leyland, Mr. Vinod K. Desari said that he was happy to receive these orders from the State Transport Undertakings. He said, “We are very happy to receive the confirmation of these orders from State Transport Undertakings. Our ability to bring value, combined with our superior technology and innovation will help us maintain our leadership position in buses in India.”

2. The shares of Ashok Leyland have also seen a hike of 2.7 percent in the early trade on Thursday after the company bagged the orders from the STU for bus manufacturing. The company has acquired additional 5,00,010 shares of Rs.10 each constituting 12.50 percent in the paid-up share capital of Ashley Aviation (AAL) for Rs.25,50,051. Post the said acquisition, the company's shareholding in AAL stands increased to 88.75 percent. Ashok Leyland is presently among the top 4 largest buses manufacturing country in the world and the largest manufacturing unit in our country. These orders will further enhance its claim in the leadership position worldwide. The company has acquired the approval of the Ministry of Civil Aviation and has also proposed to acquire the balance equity shares held by individuals in AAL before the end of March in 2019. Sanjay Saraswat, Senior Vice President, Global Buses, Ashok Leyland talked about the durability and strength of the buses which are the latest in technology. Commenting on this he said, “Our buses are durable, robust and employ the latest in technology. The cost of ownership and the product experience which we can deliver is the best in the industry. Our in-depth understanding of what works for our markets and customers is what differentiates us and has helped us win these orders.” Founded in 1948, the company has nine operating plants. These plants not only manufacture buses and trucks but also spare parts and engines for industrial and marine applications. The company is also the 12th largest producer of trucks in the world. The company is an exporter of commercial vehicles to Gulf Cooperation Council member states like Kuwait, Oman, Qatar, and UAE. It also exports to Commonwealth of Independent States countries like Azerbaijan, Georgia, Kazakhstan, Russia, Tajikistan, Uzbekistan, East and West Africa, Sri Lanka, Bangladesh, Nepal, Indonesia, and Malaysia. The company is also the second largest commercial vehicle company in India in the medium and heavy commercial vehicle segment. In 2017, Ashok Leyland announced its partnership with SUN Mobility with the aim to develop electric vehicles.